When to pay

2 replies
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I started my business on May 1, 2024. When are the quarterly taxes due?

xmasbaby0

Level 15

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the CD/download so that you can prepare a Schedule C for your business expenses.

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

mtufaro

Level 7

So, I think your question was when to make the estimated tax payments. The dates to make the payments are April 15, June 15, and September 15, and January 15 of the following year, unless the date falls on a weekend or holiday. In that case the payment is due on the next business day. So this year the third quarter payment is due on September 16, 2024.

I want to add this as well. I would strongly encourage you to make them direct through the IRS. Go here: https://www.irs.gov/payments

You save the cost of postage plus no one can claim that it got "lost in the mail". If you are now creating a 1040-ES go here for the mailing addresses: Where to file addresses for taxpayers and tax professionals filing Form 1040-ES The mailing addresses are based upon the state you live in.

Be well and safe!

Marc T.

Turbo Tax Expert

27 Years of Experience Helping Clients